Global Mini LED Market

Global Mini LED Market Size, Share, Growth Analysis, By Type(Standard LEDs, Low-current LEDs), By End-Use Industry(Consumer, Automotive Electronics) - Industry Forecast 2023-2030


Report ID: SQMIG45K2019 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 62 | Figures: 77

Global Mini LED Market Insights

Mini LED Market size was valued at USD 411.2 million in 2021 and is poised to grow from USD 594.1 million in 2022 to USD 16297.85 million by 2030, growing at a CAGR of 44.48% in the forecast period (2023-2030).

Global mini LED (light emitting diode) market is expected to experience escalating growth in the upcoming years due to the rising popularity of LED TVs and the introduction of fresh market prospects in the Asia Pacific region. East Asia and South Asia have more of a consolidated small LED market. Consumer electronics sector trends, including the rising demand for LED-based TVs, laptops, and smartphones, are the main factors driving the market. As per reports, Smart TVs hold 89% of the global TV market share. Numerous growth potential for tiny LEDs are being facilitated by their capacity to provide higher contrast ratios, higher brightness, improved power efficiency, and less proneness to burn-in. Additionally, the growing use of LED screens in the automotive and military industries has created new market potential for the small LED industry. It is anticipated that the launch of the NGN (Next Generation Network) and the growing acceptance of the Internet of Things (IoT) will increase demand for smartphones, smart watches, laptops, projectors, and other smart gadgets.

The mini LED market size will eventually increase during the forecast period due to the increase in demand for smart gadgets. As per data, by 2019, 370 thousand units were shipped overall. The next-generation display technology that supports high contrast ratio, higher brightness, wider colour gamut, low energy consumption, and quick response time is thought to be based on miniature light-emitting diodes. Over the next several years, it is projected that they would gradually reduce the market share of organic light-emitting diodes (OLEDs) because their contrast and brightness properties are thought to be superior. Furthermore, to assure hassle-free production, manufacturers only need to rebuild the driver ICs and invest in manufacturing equipment in the current traditional LCD production setup. Mini LED technology offers these established LCD producers a chance to improve product features and compete with current OLED technology.

US Mini LED Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 411.2 million

Largest Segment

Standard

Fastest Growth

Standard

Growth Rate

44.48% CAGR

Global Mini LED Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Mini LED Market Size by Product, 2022-2028 ($ Bn)
Global Mini LED Market Size by Product, 2022-2028 (%)

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Global Mini LED Market Segmental Analysis

The global mini LED market is segmented based on type, end-use industry, and region. Based on the product, the global mini LED market is segmented into standard LEDs, Low-current LEDs, Ultra-high Output LEDs. Based on the end-use industry, the global mini LED market is segmented into consumer and automotive electronics. Based on region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Mini LED Market Analysis by Type

In display devices like TVs, smartphones, and many others, mini LEDs are becoming more and more common. The market for ultra-high output tiny LEDs will increase over the next few years due to the growing need for consumer electronics with greater performance and higher efficiency. By the end of 2030, the market for ultra-high output tiny LEDs is anticipated to have more than one-third of the overall market share. The most profitable market, however, is expected to remain the one for standard tiny LEDs, which would generate a value potential throughout the projected period.

Mini LED Market Analysis by End-Use Industry

The demand for mini LEDs in the consumer electronics market will be driven by increased sales of OLED smart televisions, smart screen products, and LED projectors. Furthermore, the recent expansion of the mini LED market has been fueled by rising demand for smartphones as a result of technological developments in the telecommunications sector and the introduction of LTE services. By the end of 2030, the consumer electronics market for mini LEDs is anticipated to generate a value opportunity of US$ 1 Bn. However, the market for mini LEDs in the automotive sector is estimated to grow at a CAGR of 22% from 2021 to 2028. The widespread use of digital screens and lighting environments is the cause of the car industry's rapid expansion.

Global Mini LED Market By Product, 2021 (%), 2021 (%)

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Global Mini LED Market Regional Insights

The global mini LED market is expected to be dominated by Europe, followed by Asia Pacific and North America.

In 2021, North America accounted for the greatest market share. The U.S. consumer electronics and automobile industries are very receptive to new technology, and as a result, they are early adopters of numerous cutting-edge items. Also, a strong regional demand for expensive gaming laptops and displays in the nation is anticipated to drive market expansion throughout the projection period. During SID Display Week 2019, the American startup Rohinni LLC displayed a variety of its products, including small LED lights and panels. By the end of 2019, the business anticipates commercialising its first tiny light-emitting diode device.

Taiwan panel manufacturers are having trouble producing OLED panels due to supply chain constraints, so these businesses are concentrating on creating small LED display solutions. Along with other Japanese businesses, Japan Display Inc. and Nichia Corporation are developing this technology and associated goods. Thus, the Asia Pacific region is predicted to be one of the key markets over the forecast period given advancements in Taiwan, Japan, and China.

Global Mini LED Market By Geography, 2022 - 2028, 2023-2030
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  • Fastest

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Global Mini LED Market Dynamics

Mini LED Market Driver

  • Increased demand for micro LED backlight in the electronics industry is a key driver fueling the mini LED display market expansion. Major consumer electronics companies including LG, Samsung, AUO, and others aim to release goods with micro LED technology, which is quickly gaining interest in the electronics market. The small LED backlight technology has been introduced by AUO in a number of displays that span a range of gaming devices, from huge desktop and laptop monitors to laptops, as well as high-end products like VR headsets and intelligent automobiles. The expansion of the tiny LED display market is expected to benefit greatly from the rise in smartphone usage and the deeper integration of its many capabilities into daily life.

Mini LED Market Restraint

  • The high cost of mini LEDs and the greater number of ICs needed to operate mini LEDs in comparison to OLED and QLED are the main factors impeding the growth of the mini LED market, and these factors are anticipated to do so in the near future.

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Global Mini LED Market Competitive Landscape

One of the well-known businesses developing this technology and its related products is AU Optronics Corp. (AUO), along with Innolux Corporation, Japan Display, Inc., Everlight Electronics Co. Ltd., and EPISTAR Corporation. Mini LED backlight devices for high-end uses, like gaming notebooks and monitors, have been shipped by a number of LED manufacturers since 2018, including Lextar and EPISTAR Corporation. As the market has a significant potential in a wide range of applications across several verticals, the companies are eager to increase their efforts in the development of small and micro light-emitting diodes. The Guangzhou International Lighting Exhibition (GILE) 2019 featured a 65-inch micro LED display from Shenzhen Refond Optoelectronics Co., Ltd. At the Integrated Systems Europe (ISE) 2019 trade show in Amsterdam, Unilumin Group displayed a 0.9 mm miniature LED display. For high-end applications, the business is mass-producing 0.9 mm modules. Four separate small light-emitting diode product types with varying pixel pitches—1.5 mm, 1.2 mm, 0.78 mm, and 0.9 mm—have been created by AOTO Electronics Co., Ltd., and each has begun mass production.

Top Players in the Mini LED Market

  • Samsung Electronics Co. Ltd.
  • LG Electronics Inc.
  • Sony Corporation
  • Innolux Corporation
  • Osram Licht AG
  • Lextar Electronics Corporation
  • AU Optronics Corp.
  • Epistar Corporation
  • Everlight Electronics Co., Ltd.
  • Nationstar Optoelectronics Co., Ltd.
  • Unilumin Group Co., Ltd.
  • Harvatek Corporation
  • ROHM Semiconductor
  • Beijing Jiuzhou Qinghua Technology Co. Ltd.
  • Radiant Opto-Electronics Corporation
  • Lite-On Technology Corporation
  • Nichia Corporation
  • Lumileds Holding B.V.
  • Cree, Inc.
  • Plessey Semiconductors Ltd.

Mini LED Market Recent Developments

  • In March 2021, SMART Global Holdings, Inc completed its acquisition of Cree, Inc’s Cree LED Products business unit. Cree LED will operate as the Cree LED business unit of SGH
  • In January 2022, Orion Energy Systems, a provider of LED lighting and management, is expanding its service business portfolio by purchasing Stay-Lite Lighting, a company that offers lighting and electrical maintenance and repair.

Global Mini LED Key Market Trends

  • Emergence of cutting edge display technologies is pushing the key players in the global mini LED market to bring enhanced technologies in the mini LED market. For example, the advancement of cutting-edge display technologies is something that AU Optronics (AUO) is still working on. At SID Display Week 2022, AUO will present the application scenarios of the next-generation Micro LED display technology integrated smart cockpit, numerous world-first AmLED gaming display panels, as well as top-notch sensing technologies that highlight AUO's powerful integration capabilities. All of these products were jointly developed with partners from the technology ecosphere. With display technology platforms that focus on the display as the core to realise numerous imaging applications, AUO meets the evolving needs of verticals and exemplifies what "Display Everywhere 2.0" entails. In this exhibit, AUO is showcasing its K-zone Mini LED series, which has over 1000 dimming zones and complies with the highest VESA Display HDR1000 specification. It can display strong contrast and a high refresh rate to offer gaming visuals a more realistic feel. The 240Hz refresh rate can currently provide the images with fine details and flow with exceptional precision.

Global Mini LED Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global mini LED market analysis, growing demand of mini LEDs for applications such as in PC monitors, televisions and automotive industry, the lower failure rate compared to traditional LEDs and the higher yield-rates compared to OLED’s are some major factors driving the growth of the global mini LED market.

Report Metric Details
Market size value in 2021 USD 411.2 million
Market size value in 2030 USD 16297.85 million
Growth Rate 44.48%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Million
Segments covered
  • Type
    • Standard LEDs, Low-current LEDs, Ultra-high Output LEDs
  • End-Use Industry
    • Consumer, Automotive Electronics
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Samsung Electronics Co. Ltd.
  • LG Electronics Inc.
  • Sony Corporation
  • Innolux Corporation
  • Osram Licht AG
  • Lextar Electronics Corporation
  • AU Optronics Corp.
  • Epistar Corporation
  • Everlight Electronics Co., Ltd.
  • Nationstar Optoelectronics Co., Ltd.
  • Unilumin Group Co., Ltd.
  • Harvatek Corporation
  • ROHM Semiconductor
  • Beijing Jiuzhou Qinghua Technology Co. Ltd.
  • Radiant Opto-Electronics Corporation
  • Lite-On Technology Corporation
  • Nichia Corporation
  • Lumileds Holding B.V.
  • Cree, Inc.
  • Plessey Semiconductors Ltd.

Mini LED Market Recent Developments

  • In March 2021, SMART Global Holdings, Inc completed its acquisition of Cree, Inc’s Cree LED Products business unit. Cree LED will operate as the Cree LED business unit of SGH
  • In January 2022, Orion Energy Systems, a provider of LED lighting and management, is expanding its service business portfolio by purchasing Stay-Lite Lighting, a company that offers lighting and electrical maintenance and repair.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Mini LED Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Mini LED Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Mini LED Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Mini LED Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Mini LED Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Mini LED Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Mini LED Market size was valued at USD 411.2 million in 2021 and is poised to grow from USD 594.1 million in 2022 to USD 16297.85 million by 2030, growing at a CAGR of 44.48% in the forecast period (2023-2030).

One of the well-known businesses developing this technology and its related products is AU Optronics Corp. (AUO), along with Innolux Corporation, Japan Display, Inc., Everlight Electronics Co. Ltd., and EPISTAR Corporation. Mini LED backlight devices for high-end uses, like gaming notebooks and monitors, have been shipped by a number of LED manufacturers since 2018, including Lextar and EPISTAR Corporation. As the market has a significant potential in a wide range of applications across several verticals, the companies are eager to increase their efforts in the development of small and micro light-emitting diodes. The Guangzhou International Lighting Exhibition (GILE) 2019 featured a 65-inch micro LED display from Shenzhen Refond Optoelectronics Co., Ltd. At the Integrated Systems Europe (ISE) 2019 trade show in Amsterdam, Unilumin Group displayed a 0.9 mm miniature LED display. For high-end applications, the business is mass-producing 0.9 mm modules. Four separate small light-emitting diode product types with varying pixel pitches—1.5 mm, 1.2 mm, 0.78 mm, and 0.9 mm—have been created by AOTO Electronics Co., Ltd., and each has begun mass production. 'Samsung Electronics Co. Ltd.', 'LG Electronics Inc.', 'Sony Corporation', 'Innolux Corporation', 'Osram Licht AG', 'Lextar Electronics Corporation', 'AU Optronics Corp.', 'Epistar Corporation', 'Everlight Electronics Co., Ltd.', 'Nationstar Optoelectronics Co., Ltd.', 'Unilumin Group Co., Ltd.', 'Harvatek Corporation', 'ROHM Semiconductor', 'Beijing Jiuzhou Qinghua Technology Co. Ltd.', 'Radiant Opto-Electronics Corporation', 'Lite-On Technology Corporation', 'Nichia Corporation', 'Lumileds Holding B.V.', 'Cree, Inc.', 'Plessey Semiconductors Ltd.', 'In March 2021, SMART Global Holdings, Inc completed its acquisition of Cree, Inc’s Cree LED Products business unit. Cree LED will operate as the Cree LED business unit of SGH', 'In January 2022, Orion Energy Systems, a provider of LED lighting and management, is expanding its service business portfolio by purchasing Stay-Lite Lighting, a company that offers lighting and electrical maintenance and repair.'

Increased demand for micro LED backlight in the electronics industry is a key driver fueling the mini LED display market expansion. Major consumer electronics companies including LG, Samsung, AUO, and others aim to release goods with micro LED technology, which is quickly gaining interest in the electronics market. The small LED backlight technology has been introduced by AUO in a number of displays that span a range of gaming devices, from huge desktop and laptop monitors to laptops, as well as high-end products like VR headsets and intelligent automobiles. The expansion of the tiny LED display market is expected to benefit greatly from the rise in smartphone usage and the deeper integration of its many capabilities into daily life.

Emergence of cutting edge display technologies is pushing the key players in the global mini LED market to bring enhanced technologies in the mini LED market. For example, the advancement of cutting-edge display technologies is something that AU Optronics (AUO) is still working on. At SID Display Week 2022, AUO will present the application scenarios of the next-generation Micro LED display technology integrated smart cockpit, numerous world-first AmLED gaming display panels, as well as top-notch sensing technologies that highlight AUO's powerful integration capabilities. All of these products were jointly developed with partners from the technology ecosphere. With display technology platforms that focus on the display as the core to realise numerous imaging applications, AUO meets the evolving needs of verticals and exemplifies what "Display Everywhere 2.0" entails. In this exhibit, AUO is showcasing its K-zone Mini LED series, which has over 1000 dimming zones and complies with the highest VESA Display HDR1000 specification. It can display strong contrast and a high refresh rate to offer gaming visuals a more realistic feel. The 240Hz refresh rate can currently provide the images with fine details and flow with exceptional precision.

The global mini LED market is expected to be dominated by Europe, followed by Asia Pacific and North America.

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Global Mini LED Market

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